The US Federal Bureau of Investigation (FBI) is offering a $100,000 reward for information leading to the capture of Ruja Ignatova, known as the ‘Crypto Queen’. Ignatova is also on the FBI’s list of ten most wanted criminals, accused of being behind a massive fraud operation that has left millions of investors in trouble around the world.
Ignatova and her business partner founded the Bulgaria-based startup OneCoin in 2014. OneCoin has been called the ‘Bitcoin Killer’.
∙ ‘Crypto queen’ sinks with 38685.94 crores, investors in 175 countries looking for culprit
Ruja Ignatova, known as the Cryptoqueen, has attracted investors from 175 countries. The extent of the fraud is revealed by the fact that they have disappeared after raising an investment of $490 crore (Rs 38685.94 crore approx) through cryptocurrency. The Securities and Exchange Commission of America is now taking legal action against them. Not a few people have been involved in this scam, which was hyped during the Bitcoin wave in the name of a new type of money.
Ruja launched his cryptocurrency, OneCoin, by organizing grand celebrations in various countries. They will appear in front of their fans with names like Doctor Ruja and Doctor Ignatova. They are entertaining the crowd by saying that OneCoin will soon overtake Bitcoin and mocking other cryptocurrencies that are ‘trying to imitate them’.
Many who attended the ceremony at Wembley in 2016 fell into their trap. Ben McAdam from Glasgow alone invested €10,000. In addition, the Bulgaria-based company is estimated to have received around £220,000 worth of money from his family members. Ruja disappeared in 2017. Haven’t seen them since.
New news suggests that as the Internet spreads, so do scams. Every week there are new stories of huge scams including Ruja’s. She also raised more investment on a six-month world tour for her company in 2016. During that period alone, the investment from Britain alone was 26 million pounds. According to the figures, the total departure from Britain is 96 million pounds. Even in China, the reign of the crypto queen is seen as a success. 427 million euros were stolen from there in 2016. They have received substantial investment from countries like South Korea, Hong Kong and Germany. Needless to say, people from poor countries such as Vietnam, Bangladesh, and Uganda have been scammed. A huge amount of money has been entrusted to them from many countries.
This is not surprising to anyone who listens to such news. Because they are becoming so ubiquitous. All kinds of people fall for these scams disguised as high-tech. In 2016, Bitcoin was somewhat successful in creating a sense of revolutionary change. The hype was that blockchain technology was going to replace old money transfer methods. In the public offering model of the companies, huge money collection was done in the name of Initial Coin Offering. Such deals come with big promises and hype. Lucky are those who have escaped the hype that crypto is going to be the final word.
English Summary: FBI Offers $100K Bounty On ‘Crypto Queen’ Ignatova In Fraud Case, Bitcoin Rises